All Articles Tagged - US100cash

Daily Market Comment – Dollar slips, stocks soar ahead of US inflation report

Posted on June 13, 2023 at 8:33 am GMT

All eyes on US inflation data today, could influence Fed decision Dollar slips, sterling jumps after jobs data, stocks power higher China cuts interest rates, crash in oil prices warns of soft demand US inflation in focus Global markets are about to encounter turbulence today with the release of the US CPI report for May. Economist forecasts suggest the headline and the core CPI rates are due to decline in yearly terms, mostly thanks to lower energy prices and base [..]

Technical Analysis – US 100 cash index rally continues; how high can it go?

Posted on June 13, 2023 at 7:24 am GMT

The US 100 index has recorded a new 2023 high and it is currently hovering around the highest level since April 6, 2022. The rally since the March 13, 2023 low has been almost exponential, but similar to the increases seen in other stock indices. The bears are clearly hoping for a correction, but their expectations have been proven false up to now. The bulls are probably feeling confident the rally will continue but some cracks have appeared at the [..]

Tech stocks remain buoyant as VIX gets crushed – Stock Market News

Posted on June 8, 2023 at 9:52 am GMT

It’s been a fantastic year for mega-cap tech stocks, which have defied all the economic gloom to stage a stunning comeback. The risk is that this rally is approaching its ‘finale’ in an environment where valuations are stretched, earnings are stagnant, and liquidity flows are about to turn negative. Tech party News flow this year has been quite gloomy. A series of bank failures, a deepening contraction in the manufacturing sector, persistently high inflation, and rising interest rates have been [..]

Daily Market Comment – Dollar mixed amidst increasing chances of a Fed skip

Posted on June 7, 2023 at 7:42 am GMT

The probability of a Fed pause next week rises to 80% Dollar gains the most against euro, loses versus the aussie Investors are split on whether the BoC should hike today Wall Street enjoys another day of gains Investors more convinced that the Fed will pause The US dollar traded mixed against the other major currencies on Tuesday, gaining some ground against the euro, the yen, and the Swiss franc, and underperforming versus the aussie, the kiwi and the loonie. [..]

Technical Analysis – US 100 cash index at new high for 2023 but correction is overdue

Posted on June 6, 2023 at 7:54 am GMT

The US 100 index is trading a tad above the 14,346-14,382 range, close to the highest level for almost 14 months. The pace of the recent rally remains very aggressive, pleasing the bulls but opening the door for a sizeable correction towards the March 13, 2023 upward sloping trendline. The bulls are probably feeling confident the rally will continue since the Average Directional Movement Index (ADX) is currently trading at its highest level since November 2021, confirming the aggressive upleg. However, [..]

Daily Market Comment – US jobs data keeps the door for a June pause wide open

Posted on June 5, 2023 at 7:56 am GMT

Dollar gains as NFPs beat estimates But June pause probability stays unmoved as wages slow RBA faces dilemma to hike or stay sidelined Saudi Arabia pledges oil cuts from July Dollar rebounds as US economy adds 339k jobs The US dollar traded higher against most of its major peers on Friday and continued to gain today after the US employment report revealed that the economy added 339k jobs in May, up from an upwardly revised 294k in April, and much [..]

Daily Market Comment – Dollar weakens further ahead of the NFPs

Posted on June 2, 2023 at 8:09 am GMT

Dollar extends slide on slowing unit labor costs Investors scale back their Fed hike bets NFPs enter the limelight; mind the earnings Wall Street cheers June pause prospect Dollar slips as investors remove more June hike bets The US dollar continued tumbling on Thursday, losing ground against every other major currency, while staying on the back foot against most of its peers today as well. Following dovish remarks by Fed Board Governor Jefferson and Philadelphia Fed President Harker, who both [..]

Technical Analysis – Will the US 100 index come under profit-taking pressure?

Posted on June 1, 2023 at 2:19 pm GMT

The US 100 stock index (cash) opened June’s trading session on a neutral note, though the formation of a bearish doji at the top of the uptrend keeps feeding speculation that the latest remarkable rally has probably peaked. The RSI and the stochastic oscillator are witnessing overbought conditions. Yet, with the former standing above 70 and the latter preserving a horizontal trajectory around 80, upside pressures could last a bit longer, especially if the 14,215 nearby support area stands firm. In the event the price heads lower, [..]

Daily Market Comment – Weak Chinese data pushes risk assets lower

Posted on May 31, 2023 at 8:31 am GMT

China PMIs disappoint, dragging down risk-sensitive currencies Yen recovers, helped by safe-haven flows and Tokyo FX warning Euro turns to German inflation data, tech stocks close stellar month Chinese business surveys miss estimates Global markets woke up in a foul mood on Wednesday, following some disappointing data from the world’s second-largest economy. China’s manufacturing sector fell deeper into contraction in May, while services growth also lost steam according to the latest batch of business surveys. It’s clear that the reopening [..]

Daily Market Comment – Biden and McCarthy agree to raise US debt ceiling

Posted on May 29, 2023 at 8:00 am GMT

Biden and McCarthy find common ground, deal ready for Congress vote Dollar takes a breather, but summer hike bets increase Turkish lira slips to new record low as Erdogan secures victory Wall Street gains, mainly driven by chip stocks Biden and McCarthy agree to suspend debt ceiling until 2025 The dollar traded lower against most of the other major currencies on Friday, and continued its retreat today, even as US President Biden and Congressional Republican McCarthy reached common ground over [..]

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